Bright-eyed and bushy-tailed, your first few months of running a small Sydney side business may have been invigorating. The thought of partnering with a Sydney business strategist seemed wildly unnecessary. Perhaps there was a sprinkle of fear mixed with an overwhelming sense of excitement, but regardless, the sky was the limit, and your head was in the clouds. However, somewhere in between the overheads, the tax returns, the project management, and trying to figure out the whats and hows of wearing every hat – your big dreams quickly turned into pipe dreams.
So with Christmas on your doorstep, now is the perfect time to take a breather and ask yourself what do you truly want from your business?
Wait, what was the plan again?
If you take a walk down memory lane right to where your small business started, you would be able to identify the driving force behind its humble origins – your more.
Perhaps you dreamed of a brand spanking new office in the CBD to cater for a mind-boggling employee count, or maybe you wished of packing up your laptop and taking your business on the road to see all the wonders of the world. Whether it was more travel, more growth or many more things, while COVID-19 turned your business on top of its head (and took the world with it), the purpose of your business may have remained unshakeable – even if you did lose touch with what it was.
Staying with your more, take a second to articulate what exactly this would look like if you were living it right now. How many hours would you be putting into your business? What would your role and responsibilities look like? How much cash would you be getting out of it?
Now that you’re crystal clear on the more you want to make a reality, it’s time to figure out how you’re going to reach it (AKA Orbit’s bread and butter). So without further ado, let’s reinvent your business to ensure it delivers exactly what you signed up for.
Getting real with your Sydney business strategist.
Similar to working with your personal trainer, your results with your Sydney business strategist will come down to how honest you are about your actions. We’ll be creating a custom action plan aligned to your individual goals, and just right here is where the similarities with the health world end because unlike a diet, a budget is not meant to be restrictive.
If you’ve got off on the wrong foot with budgeting, let us clean the slate, budgets are a positive tool, a necessary part of business and are there to help you reach your goals. While we would never condone spending beyond your means, you can keep track of your expenses and stick to your budget while enjoying a second cup of coffee and some avocado on toast.
While strategic business advice should always be tailored to your unique business goals, empowering your Sydney small business with good numbers and financial management should always be on the list. To set you off to a flying start, here are a handful of questions from our expert business strategists for you to ponder of the Xmas break:
- Do you need to modify your role, delegate more tasks, or provide more training to your team to reduce your workload?
- How can you boost your profit margin, and in what order should you implement these tactics?
- How can you attract more ‘A-class’ clients and turn your B and C class clients into A’s? (Don’t know who your ‘A-Class’ clients are – head here.)
- What are your current expenses, and are there any unnecessary ones we cut back on?
- Are you tracking your numbers in real-time with cloud accounting technology and software like Xero?
- Are there any processes you can implement to make your small business run more efficiently?
Setting the record straight.
If your more is clear and unwavering but remains out of reach, that’s where our Sydney business strategists can come into play, steering you on the right track to reach orbit with a tailored business plan and budget for your small business.
Over the holidays, grab yourself a glass of mulled wine and some gingerbread (we won’t tell the PT), and get honest about your more, and if you want to make it possible by partnering with our business strategists in Sydney, book a chat or get in touch.